US Bancorp DE Increases Position in STAAR Surgical Company $STAA

US Bancorp DE raised its holdings in shares of STAAR Surgical Company (NASDAQ:STAA) by 1,693.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,044 shares of the medical instruments supplier’s stock after buying an additional 1,930 shares during the period. US Bancorp DE’s holdings in STAAR Surgical were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STAA. LPL Financial LLC boosted its position in shares of STAAR Surgical by 45.3% during the fourth quarter. LPL Financial LLC now owns 15,994 shares of the medical instruments supplier’s stock valued at $388,000 after buying an additional 4,989 shares during the period. Wells Fargo & Company MN boosted its position in shares of STAAR Surgical by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 26,081 shares of the medical instruments supplier’s stock valued at $634,000 after buying an additional 5,572 shares during the period. Invesco Ltd. boosted its position in shares of STAAR Surgical by 7.2% during the fourth quarter. Invesco Ltd. now owns 202,981 shares of the medical instruments supplier’s stock valued at $4,930,000 after buying an additional 13,714 shares during the period. Legal & General Group Plc boosted its position in shares of STAAR Surgical by 3.8% during the fourth quarter. Legal & General Group Plc now owns 179,270 shares of the medical instruments supplier’s stock valued at $4,354,000 after buying an additional 6,622 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of STAAR Surgical during the fourth quarter valued at approximately $923,000. Hedge funds and other institutional investors own 96.70% of the company’s stock.

Analyst Ratings Changes

STAA has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of STAAR Surgical from $20.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, August 6th. Stifel Nicolaus set a $28.00 price target on shares of STAAR Surgical and gave the company a “hold” rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STAAR Surgical in a research note on Wednesday, May 21st. Mizuho lifted their price target on shares of STAAR Surgical from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, Piper Sandler raised shares of STAAR Surgical to a “hold” rating in a research note on Wednesday, June 18th. Ten analysts have rated the stock with a Hold rating, According to MarketBeat, STAAR Surgical has an average rating of “Hold” and a consensus price target of $20.67.

STAAR Surgical Trading Down 0.1%

Shares of STAA stock opened at $27.96 on Wednesday. The business’s fifty day simple moving average is $19.73 and its 200-day simple moving average is $18.59. The company has a market cap of $1.39 billion, a PE ratio of -14.49 and a beta of 0.61. STAAR Surgical Company has a 12-month low of $13.50 and a 12-month high of $38.60.

STAAR Surgical announced that its Board of Directors has authorized a share repurchase plan on Friday, May 16th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

STAAR Surgical Company Profile

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.